Singapore Post has terminated the employment of three of its senior management staff after it concluded investigations over a whistle-blower’s report that it received earlier in 2024. The employment of group chief executive officer Vincent Phang, group chief financial...
Singapore Post has terminated the employment of three of its senior management staff after it concluded investigations over a whistle-blower’s report that it received earlier in 2024.
SingPost will announce the appointment of its new group CEO “in due course”, while Mr Isaac Mah, the current CFO of its Australian business, FMH Group, will be appointed as the new group CFO. They made manual updates on “one of its largest” customers’ deliveries that were not in accordance with the company’s standard processes.
Given the seriousness of these lapses and findings, the board said, it has “lost confidence and trust” in the judgment of the three, and in their ability to perform their duties towards promoting and protecting the interests of the company. SingPost said postal services in Singapore will not be affected as each of its businesses has its own leadership team, and will continue to operate normally.They have agreed on a settlement under which, among others, the company would pay a settlement sum in lieu of penalties.
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